Polynt and Reichhold, on May 19, 2017, announces the closing of the combination announced last year, after having received all regulatory approvals. The new Polynt-Reichhold (or “the Group”) is a global company in the Intermediates, Coating and Composite Resins, Thermoset Compounds, Gel-coats and niche Specialties with over €2 billion in revenues. Investindustrial and Black Diamond Capital Management, L.L.C. (“Black Diamond”) are equal investors in the new group.
This combination enhances the Group’s leading position as a global vertically integrated specialty chemicals player, with significant global presence in Europe, North America and Asia, a strategy initiated by Polynt with the successful integration of PCCR and CCP in the last five years and now further reinforced by Reichhold’s global scale, extensive product portfolio and R&D competencies. The Group’s excellence in serving customers around the world will be further strengthened by the merger of best in class innovation and a customer oriented approach.
Investindustrial’s Chairman and Managing Principal Andrea C. Bonomi commented: “We are pleased that Polynt, whose highly experienced management team is led by chief executive Rosario Valido, has grown from a company with less than €600 million of revenues at the time of our initial investment to now form a group with revenues of €2 billion and established global operations.”
“We intend to quickly align the cultures within the combination to support our global leadership position, better serve our customers and create value for our shareholders”, added Rosario Valido, President and CEO of the new Group.
“We intend to quickly align the cultures within the combination to support our global leadership position, better serve our customers and create value for our shareholders”, added Rosario Valido, President and CEO of the new Group. “With 44 plants across the world the Company will be the closest to the local needs of its customers and the just in time suppliers of specialty chemicals in the geographies in which they have operations. Our aim is to grow our business together with our customers and to drive the quality of our products toward the highest expectations of the industry.”
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